A JOINT venture between Singapore and Myanmar has made an early entrance into the latter’s pre-school education market.
The company has opened a $500,000 Modern Montessori International (MMI) Group centre in the nation’s largest city Yangon, in the affluent Bahan township.
The pre-school was officially opened yesterday.
It will be managed by MMI’s local franchisee, Singapore Education Training Academy Co (Seta), a 50-50 joint venture between Singapore and Myanmar interests.
The Singapore interest is headed by Seta chief executive Kalimuthu Ponnusamy while the Myanmar interest is held by U Soe Myint, who is also known as Mr Singaroo.
Classes are expected to commence next month, with a student intake of 100.
The pre-school is expected to pull in revenues above US$200,000 (S$274,000) in the first year of operations. Both enrolment and revenues are likely to double next year, the firm said.
Dr T. Chandroo, London-based MMI chairman and chief executive, said in a statement that the pre-school’s opening “underscores our overall aim to accelerate our expansion in emerging markets overseas”.
During an interview last Thursday, he added that MMI hopes to expand to Vietnam by the end of this year, and provide primary school education to emerging markets in three to five years.
MMI and Seta also plan to promote literacy in Myanmar’s rural areas and offer scholarships.
Dr Chandroo advised Singapore businesses intending to venture into Myanmar to conduct ample research and identify compatible business partners beforehand.
Ms Florence Loh, International Enterprise Singapore’s centre director in Yangon, said in a statement:
“Investments in training and education will contribute to Myanmar’s development of a strong workforce.
“We are happy to see that in addition to existing partnerships in urban development and hospitality, Singapore companies are now exploring other channels to reach local consumers through modern retail and service offerings.”
Source: Asia One
To learn about why Singapore companies are so prolific in Myanmar read the article at http://consult-myanmar.com/2015/05/12/why-are-singapore-companies-so-prolific-in-myanmar/